Clothing company New Wave Group AB has signed a deal to buy textile maker Dahetra AS and its subsidiary Hurricane Purchase AS.

The sale is for a fixed price of MDKK20 plus an extra sum depending on the companies' profit development between 2005 and 2009.

Dahetra supplies basic textiles, transfer production and embroidery and has 94 employees.

The group has offices in Skanderborg and Fredrikshavn in Denmark, Gothenburg in Sweden, Sandefjord in Norway and Dhaka in Bangladesh and posted a turnover of MSEK83 during 2004.

New Wave expects that the acquisition will have a minor negative effect on 2005 results, but that the transaction will be beneficial to financial results in 2006.